ISEQ closes down 22.99 today

The ISEQ index was down 22.99 points on Thursday to close at 5352.07.

Shares in the technology firm Iona fell €1.35 on the ISEQ to close at €5.70.

Earlier the company reported a net profit of $190,000 (€159,000) for the first three months of 2004. This compared to a loss of nearly $12m (€10.05m) in the same quarter last year.

The move to profitability was mainly due to cost-cutting measures while turnover was slightly lower on the same period last year at $16.9m (€14.14m).

It also reported sales of $23.4m (€19.5m) in Q4 2003.

Dan Demmer, CFO, IONA Technologies said the company's strategy was solid evidence of the firms ability to perform over the long term.

IAWS saw its share price rise 5c to close at €9.50 after selling its Boland's Mills flour blending and packaging plant in Blanchardstown, Co Dublin to ingredients producer All in All.

The deal is rumoured to be worth between €2m - €4m.

Elan continued to gain and finished up 10c to €17.10

Financial heavyweights were down with AIB dipping 15c to €12.43, Anglo Irish down 9c to €13.05 and BOI down 3c to €10.52.

Ryanair was up 3c to €5.38.

Paddy Power were down 9c to €9.13.